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Vladimir
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March 28, 2013, 02:58:44 PM
Last edit: November 21, 2013, 06:20:34 PM by Vladimir
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WikileaksDude
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March 28, 2013, 03:00:06 PM
 #2

666 the number of the devil, doesn't sound that bad to me.
Mike Christ
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March 28, 2013, 03:01:05 PM
 #3

One day I'll have enough cash to buy people Cheesy to be one of the 21 million...feels good.

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March 28, 2013, 03:01:37 PM
 #4

~10 minutes from now your math will be invalid.

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March 28, 2013, 03:20:02 PM
 #5

One day I'll have enough cash to buy people Cheesy to be one of the 21 million...feels good.

210 BTC:  .1% of 1% or in other words, one of the top 100,000 ..   

210 BTC ...  at the going rate,  666 x 210 = approx 139,000 .. I could have my own smallish country.. hrmm.. Siglantia.. has a nice ring to it Smiley .. my subjects would be Siglantians ...

I'm thinking smallish tropical island someplace .. 

Emperor Siggy ..  has a nice ring to it

 Grin Grin Grin Grin

hold on.. some guys in white coats knocking at my door.. be right ba....

str4wm4n
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March 28, 2013, 06:28:30 PM
 #6

in the top 100,000? i'll take them odds
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March 28, 2013, 06:56:57 PM
 #7

in the top 100,000? i'll take them odds

Yeah... Keep in mind that is the mathmatical absolute worse case scenario of all 21M BTC mined, and distributed evenly.  In reality I'm thinking 210 will prolly get you in the top 10,000 ...

I know there is a list of top 410 addresses floating around the forums someplace.. does anyone have an expanded list?

Unfortnately, like many here, I just didn't fully grok bitcoin till it was to late.  I get this sinking feeling every time I think about how many mined coins I sold between $2 and $20

Had I held, I could have been 1% of 1% (2100 BTC) .. I think this is called the Vladimer club..

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March 28, 2013, 07:41:32 PM
 #8

I just bought 1 BTC and distributed them evenly to 666 people.

Now I am without BTC Sad

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March 28, 2013, 08:01:18 PM
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There are about 0.0015 BTC per human being on this planet at this time. Therefore, by buying 1 BTC you are depriving 666 human beings from owning their fair share of bitcoins. Evilness of those who hoard thousands of BTC is simply despicable. Mu-ha-ha.

In all seriousness I have actually thought of this as a model to value BTC

essentially, if every one needs 1 BTC, is worth that multiplier of people. so 1BTC = the net worth of say 500 people. However it has to be the average 500 people and so not that high, say 1000K each given you are including children, economically deprived countries, but also some of te 5% ultra rich are in there.

so 1 BTC = 500 * 1000

gives 500K per BTC

but you have to divide this by market penetration, which is say 5% 25K

this may give a order of magnitude either way to say, 2.5 K to 250K is reasonable per BTC, to put absolute limits on BTC value


 

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Peter Lambert
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March 28, 2013, 08:05:47 PM
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There are about 0.0015 BTC per human being on this planet at this time. Therefore, by buying 1 BTC you are depriving 666 human beings from owning their fair share of bitcoins. Evilness of those who hoard thousands of BTC is simply despicable. Mu-ha-ha.


 

I am not depriving anybody of anything. They can buy those mB (millibits) from me later on.

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March 28, 2013, 08:35:38 PM
 #11

That is why you should sell some now. If you think you need a reason think bubble pops

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March 28, 2013, 08:47:23 PM
 #12

The goal is to own all the Bitcoins. There can be only one! Smiley

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March 28, 2013, 08:49:33 PM
 #13

There are about 0.0015 BTC per human being on this planet at this time. Therefore, by buying 1 BTC you are depriving 666 human beings from owning their fair share of bitcoins. Evilness of those who hoard thousands of BTC is simply despicable. Mu-ha-ha.


 

Not necessarily maybe I'll sell them .0015 for a low $200 or something like that. 

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March 28, 2013, 09:12:28 PM
 #14

By saving money you are depriving others of that money. Go and spend it on things and don't save, you are being selfish.
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March 29, 2013, 04:03:14 AM
 #15

While we are engaged in rhetorical gymnastics...

Given a Pareto type exponential distribution this is an estimate of how Bitcoin wealth distribution might shake out once all 21,000,000 BTC are generated. The table shows the population of each wealth group and the approximate BTC wealth that each member of that group would hold. It shows about half of all BTC wealth being controlled by some 4,000 individuals. 80% being controlled by only 1.5 billion people. With entry to "Middle Class", and even the "1%" being marked by an amount of BTC wealth that we would consider to be a transaction fee today. And the rest living on "dust".

1
7
31
155
771
3,843
19,203
96,003
480,003
2,400,003
12,000,003
60,000,003
300,000,003
1,500,000,003
5,500,000,003
923,589.76733184 BTC
32,985.34883328 BTC
9,310.38071907 BTC
2,327.59517977 BTC
584.91772514 BTC
146.68604153 BTC
36.69442650 BTC
9.17475329 BTC
2.29374566 BTC
0.57343928 BTC
0.14335996 BTC
0.03584000 BTC
0.00896000 BTC
0.00224000 BTC
0.00076364 BTC

Or else: the bitcoin wealth distribution atm is actually much more fair than that of the old-world wealths.

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oakpacific
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March 29, 2013, 04:04:25 AM
 #16

One can always trust chodpaba to mess up the best trollolo with hard cold math and economic theory.


He was trying to show you how many chairs you need to prepare for your club meetings. Grin

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March 29, 2013, 04:37:49 AM
Last edit: March 29, 2013, 04:48:51 AM by thefiniteidea
 #17

One can always trust chodpaba to mess up the best trollolo with hard cold math and economic theory.


He was trying to show you how many chairs you need to prepare for your club meetings. Grin

I must admit to having been convinced of a lol being necessary in response to this comment.

I will now sit down at my chair marked #10,000.


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Spaceman_Spiff
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March 29, 2013, 04:40:25 AM
 #18

Haha, I like them numbers.

Apart from that: is this the new 'gentleman , I think we are...' thread?
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March 29, 2013, 07:42:42 AM
 #19

While we are engaged in rhetorical gymnastics...

Given a Pareto type exponential distribution this is an estimate of how Bitcoin wealth distribution might shake out once all 21,000,000 BTC are generated. The table shows the population of each wealth group and the approximate BTC wealth that each member of that group would hold. It shows about half of all BTC wealth being controlled by some 4,000 individuals. 80% being controlled by only 1.5 billion people. With entry to "Middle Class", and even the "1%" being marked by an amount of BTC wealth that we would consider to be a transaction fee today. And the rest living on "dust".

1
7
31
155
771
3,843
19,203
96,003
480,003
2,400,003
12,000,003
60,000,003
300,000,003
1,500,000,003
5,500,000,003
923,589.76733184 BTC
32,985.34883328 BTC
9,310.38071907 BTC
2,327.59517977 BTC
584.91772514 BTC
146.68604153 BTC
36.69442650 BTC
9.17475329 BTC
2.29374566 BTC
0.57343928 BTC
0.14335996 BTC
0.03584000 BTC
0.00896000 BTC
0.00224000 BTC
0.00076364 BTC

If the entire world is using Bitcoin we will surely have switched to µBTC already.

In that case the poorest 5.5 billion in your table gets 763.64 each. That doesn't sound too bad now does it? Smiley

I know this because Tyler knows this.
b!z
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March 29, 2013, 08:12:29 AM
 #20

But bitcoins are infinitely divisible..
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